PRINCIPLES OF RETIREMENT AND ESTATE PLANNING
FIN3PRE
2016
Credit points: 15
Subject outline
This subject is an introduction to superannuation and retirement planning with a focus on major trends and features of the industry, the framework in which the industry operates and an examination of the role of superannuation and retirement planning within the financial planning process. The subject will also examine the estate planning discipline and the important role it plays in the financial planning process. Students will learn to estimate the future financial needs of individuals in retirement, based on their stated goals, and developing appropriate knowledge and skills required to devise optimal strategies for clients in both the accumulation and retirement phases of life. Various types of retirement plans will be evaluated, including superannuation funds, pensions, annuities and other insurance based products. Consideration will be given to the suitability of these products for clients with different needs. In the area of estate planning, students will study the fundamental principles of estate planning, the interaction between estate and retirement planning and the application of estate planning to solve the needs of clients.
School: La Trobe Business School
Credit points: 15
Subject Co-ordinator: Darren Henry
Available to Study Abroad Students: Yes
Subject year level: Year Level 3 - UG
Exchange Students: Yes
Subject particulars
Subject rules
Prerequisites: FIN2IFP OR FIN2FPL
Co-requisites: N/A
Incompatible subjects: FIN3REP
Equivalent subjects: FIN3REP
Special conditions: N/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Australian Superannuation Handbook - latest edition | Prescribed | Jones, S. | THOMSON REUTERS |
Graduate capabilities & intended learning outcomes
01. Develop an understanding of the basic features of Australia's superannuation and retirement incomes policy;
- Activities:
- Assignment (case study) that develops student's skills, knowledge and understanding
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
02. Develop an understanding of the importance of the regulatory framework that superannuation operates under and the roles of the major regulators
- Activities:
- Lectures and tutorial discussions. Mid-semester test
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
03. Understand the key features of the estate planning area and the important role that estate planning plays in the financial planning process
- Activities:
- Lectures and classroom teaching and discussion.
- Related graduate capabilities and elements:
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
04. Analyse and critically evaluate a comprehensive set of client circumstances in order to identify the needs and goals of a client;
- Activities:
- Classroom activities and discussion. Analytical case study
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
05. Examine and apply a range of superannuation, retirement and estate planning strategies appropriate to the needs and objectives of a client
- Activities:
- Classroom activities and discussion. Analytical case study
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
06. Develop more advanced skills in report writing, financial modelling and the presentation of information to clients.
- Activities:
- Analytical case study. Tutorial problems.
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Inquiry and Analytical Skills(Critical Thinking,Creative Problem-solving,Inquiry/Research)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Personal and Professional Skills(Autonomy and independence,Ethical behaviour)
- Discipline -Specific Knowledge and Skills(Discipline-Specific Knowledge and Skills)
Melbourne, 2016, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Darren Henry
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 31 - 43
One 1.0 hours tutorial other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| one 1,500-word analytical case study | 20 | 01, 03, 04, 05, 06 | |
| one 1-hour mid-semester test | 10 | 01, 02, 03, 04, 05 | |
| one 2-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05 |